Discretionary Account:
Power of attorney arrangement in which a customer gives limited or complete authority to an agent ie. bank, broker, or investment-portfolio manager, to buy and or sell securities or commodities on the customer's behalf without the customer's prior approval or knowledge Discretionary Account is Also called controlled account.
Discretionary Account is in the Banking, Commerce, Credit, & Finance, Commodities & Precious Metals Trading, Corporate, Commercial, & General Law, Investing and Securities & Futures Trading subjects.
Discretionary Account appears in the definition of the following term: controlled account.